Kuaishou Affiliate Becomes Second-largest Shareholder of Gaming Startup Rhinos Interactive

Web game developer Rhinos Interactive indicated on Dec. 8 that Muyuan Technology, one of Kuaishou’s affiliated companies, has become its second largest shareholder, according to data technology service provider Qcc. 

Muyuan Technology now owns 25% of Rhinos’ shares, while the registered capital of the gaming company has risen from 2.35 million yuan to 3.14 million yuan, up 33.33%. 

Muyan Technology is the sole shareholder of the Beijing-based Huayi Huilon Network Technology Co., Ltd., which is the controlling shareholder of the viral short video sharing platform Kuaishou.

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Established in March 2015, Rhinos Interactive is a web game developer dedicated to music and dance games focused on mobile games as well as the virtual reality (VR) market. The Shanghai-based company concentrates on female entertainment, providing customers with light games.

The company currently has disclosed two rounds of financing, including an angel round in June 2016 by China Capital Zhongcai Fund Management Co., Ltd. and this new strategic one by Kuaishou. The amounts of both remain unclear. 

Among Rhinos Interactive shareholders is Shanghai Jiante Life Technology Co., Ltd, a subsidiary of Giant Investment. 

The recent investment in Rhinos Interactive marks another move for Kuaishou in the gaming industry. Earlier this month, esport multi-channel network Baby Elephant Entertainment – a startup founded by Yuxiao Dou, a former livestreamer with YY and head of Huya livestream’s revenue unit – also obtained fresh capital from the company.